Issue Position: Recovery Act
Issue Position
Issue Position: Recovery Act
Recovery Act
The American Recovery and Reinvestment Act (ARRA) is helping get our economy out of the ditch by creating jobs and aiding those hardest hit by the worst economic downturn since the Great Depression.
On the national level, ARRA is helping to stabilize our economy while investing in long-term economic growth. It is providing tax relief for working families, investing in infrastructure, bolstering local law enforcement, allocating much-needed aid to states and additional unemployment insurance. Many of the Act's provisions are designed to be carried out over a two year period, which means that ARRA has not yet been fully implemented. The Act therefore is projected to provide additional economic benefits in 2010 and beyond. The bill includes unprecedented accountability and transparency provisions that are ensuring that the public has access to timely information about the Act.
This bill is good for Pennsylvania. The bill is helping a company in Westmoreland County create jobs and develop energy efficient technologies. It is bolstering economic development in Lancaster, building affordable housing in Philadelphia, and helping a women-owned small business in Bellefonte manufacture medical devices. These are just a few examples of how the Recovery Act is helping to stabilize the Commonwealth's economy. If you have a story that you'd like to share, please click here. Pennsylvania is on track to receive more than $26 billion through this bill, including billions in direct tax relief and more than $13.5 billion in formula-driven funding for health, education, infrastructure, job training, and other aid.[http://recovery.pa.gov]
That being said, for the 560,000 people out of work in the Commonwealth, ARRA is not working fast enough. Many Pennsylvanians have lost their job through no fault of their own. The unemployment rate in eight of Pennsylvania's 14 metropolitan areas remains above 8 percent. We have made progress responding to the economic crisis, but we need to implement new strategies that will put people back to work now. One idea that I've suggested is a tax credit that will help businesses on the cusp of expanding to hire additional workers now. I will continue to support policies that will accelerate job creation in the short-term while laying the foundation for a return to economic prosperity in the long-term.
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